Overview
What is Adams Senior Citizen Housing Corporation?
Adams Senior Citizen Housing Corporation is a California-based nonprofit organization established to oversee a 75-unit rental housing project specifically designed for the very low-income elderly population residing in Los Angeles, California. The project, which commenced operations in February 1999, operates under Section 202 of the National Housing Act. The U.S. Department of Housing and Urban Development (HUD) has entered into a regulatory agreement with the corporation, governing the project's rental charges and operating methods to ensure its purpose is served effectively. The nonprofit's mission is to provide affordable housing to the elderly, contributing to the welfare of the community by addressing the housing needs of this demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
Adams Senior Citizen Housing Corporation has achieved a commendable 94% rating, earning it a Four-Star distinction from Charity Navigator. This high score indicates a strong commitment to accountability and financial health, with the overall evaluation based solely on this aspect. The organization demonstrates effective oversight, as reflected in its perfect scores in categories such as majority independent board members and comprehensive financial oversight practices.
The nonprofit boasts a solid program expense ratio of 82.95%, showcasing its dedication to allocating resources effectively toward its mission. The organization has implemented robust policies regarding conflict of interest, whistleblower protections, and document retention, contributing to a transparent and ethical operational framework. Additionally, there are no reported material diversions of assets, which further underscores its financial integrity.
Despite its strengths, potential donors and stakeholders should consider the single focus on Accountability & Finance in the rating. While financial responsibility is crucial, a broader assessment of programmatic impact and community engagement might provide a more holistic view of the organization's effectiveness in serving its senior population. Overall, Adams Senior Citizen Housing Corporation demonstrates solid financial stewardship, making it a trustworthy option for those looking to support senior housing initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Adams Senior Citizen Housing Corporation legitimate?
Adams Senior Citizen Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Adams Senior Citizen Housing Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Adams Senior Citizen Housing Corporation?
The Adams Senior Citizen Housing Corporation, established as a California nonprofit corporation, was formed with the purpose of owning and managing a 75-unit rental housing project for the very low-income elderly. The project, located in Los Angeles, California, began operations in February 1999. The corporation operates under Section 202 of the National Housing Act and has a regulatory agreement with the U.S. Department of Housing and Urban Development. This agreement governs the project's rental charges and operating methods. The mission of Adams Senior Citizen Housing Corporation is primarily focused on providing affordable housing solutions for the elderly with limited income, ensuring they have a suitable living environment.
Who is the CEO of Adams Senior Citizen Housing Corporation?
Douglas J Cope is the Chair of Adams Senior Citizen Housing Corporation.
What is the revenue of Adams Senior Citizen Housing Corporation?
Adams Senior Citizen Housing Corporation's revenue in 2023 was $716,631.
Who are the executives of Adams Senior Citizen Housing Corporation and what are their salaries?
There 11 volunteers at Adams Senior Citizen Housing Corporation.
Here are 16 key members and their salaries:
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- Related: $295,646
- Other: $7,146
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- Other: $17,587
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- Related: $220,516
- Other: $10,055
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- Related: $142,076
- Other: $21,579
- Compensation: $0
- Related: $135,576
- Other: $21,323
Where can I find the form 990 for Adams Senior Citizen Housing Corporation?
Adams Senior Citizen Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Adams Senior Citizen Housing Corporation
Adams Senior Citizen Housing Corporation, a California-based nonprofit organization, was established with a mission to provide affordable housing for the very low-income elderly population. Operating under Section 202 of the National Housing Act, the corporation took on the challenge of managing a 75-unit rental housing project in Los Angeles, California. The project commenced operations in February 1999, and a regulatory agreement was established with the U.S. Department of Housing and Urban Development, which outlines the project's operational methods and rental charges. The corporation's mission is to ensure that the elderly residents of its housing project are provided with a secure and comfortable living environment, adhering to the regulations set forth by the U.S. Department of Housing and Urban Development.
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Impact
July, 2024
Adams Senior Citizen Housing Corporation has a significant impact on the community by providing a 75-unit rental housing project for very low-income elderly individuals in Los Angeles, California. Since its operations began in February 1999, the corporation has been instrumental in addressing the housing needs of this vulnerable population. By owning and operating this housing project under Section 202 of the National Housing Act, Adams Senior Citizen Housing Corporation ensures that elderly residents have access to affordable and safe housing. The regulatory agreement with the U.S. Department of Housing and Urban Development governs the project's operations, including rental charges and operating methods, further establishing the corporation's commitment to serving the elderly in need.
This information is meant to be a general summary of Adams Senior Citizen Housing Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $84
- Program Service Revenue: $284,351
- Gross Receipts: $716,631
Assets and Liabilities:
- Total Assets: $2,234,408
- Total Liabilities: $67,636
- Net Assets: $2,166,772
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$284,351
Organization Details
Founding Year
1995
Phone
(310) 475-6083Principal Officer
Douglas J Cope
Main Address
10991 W PICO BLVD, LOS ANGELES, CA, 90064
NTEE Category
Code: L22 - Housing
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